The board of directors of Russia’s Rostelecom has approved a revolving credit facility (RCF) agreement with Sberbank of up to Rbs10bn (US$187m).
The funds will be provided in tranches and used to finance operating and investment activities and…
The board of directors of Russia’s Rostelecom has approved a revolving credit facility (RCF) agreement with Sberbank of up to Rbs10bn (US$187m).
The funds will be provided in tranches and used to finance operating and investment activities and refinance liabilities, the state-controlled telco said in a filing.
The maximum interest rate will equal the base MosPrime rate plus 0.75% per annum and depend upon the length of the tranche.
Earlier this week, Rostelecom disclosed that it had secured a Rbs4bn (US$77.2m) credit line with Moskovisky Kreditnyi Bank (MSK).
Rostelecom won the approval of the Federal Antimonopoly Service (FAS) to take control of local online video streaming service RuTube last month. Local reports have valued the telco’s planned purchase of a 74.7% stake from Gazprom Media, the media arm of state-owned energy giant Gazprom, at around Rbs4bn and the whole of RuTube at Rbs5.5bn (US$118m).
